PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682781
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682781
The global sorbic acid market is projected to grow from USD 749.23 million in 2024 to USD 1,160.20 million by 2032, at a CAGR of 5.74%. This growth is primarily driven by its widespread use as a preservative in the food and beverage industry, particularly in processed and packaged food to prevent spoilage. The increasing demand for convenience food and beverages, coupled with growing health awareness, is further boosting the market. Additionally, sorbic acid's application in pharmaceuticals, cosmetics, and other industries adds to its expanding demand globally.
Key Insights
The food and beverages sector dominates the market, driven by sorbic acid's ability to prevent microbial contamination and spoilage without altering the product's flavor.
Powdered sorbic acid held a significant share of the market in 2024, favored for its ease of use in manufacturing and broad application in various food products.
Encapsulated sorbic acid, though smaller in market share, is expected to grow at a faster rate due to its ability to preserve food without affecting yeast during baking processes.
The shift in production bases from Western countries to China is a key trend, as manufacturers seek cost advantages from China's lower labor and production costs.
The Asia Pacific (APAC) region is the largest and fastest-growing market, with significant growth in food & beverage consumption and the expanding pharmaceutical sectors in countries like India and China.
The increasing availability of natural preservatives like SOR-Mate, a plant-based alternative to synthetic sorbic acid, is presenting challenges to the growth of synthetic sorbic acid.
Rising disposable incomes in emerging markets are driving the growth of the pharmaceutical industry, leading to an increased demand for sorbic acid as a preservative and antiseptic agent in drug manufacturing.